Florida attorney general hopes to discuss foreclosure proceedings with large lenders

On October 12, 2010 Florida Attorney General Bill McCollum sent letters to the Chief Executive Officers of several large lenders, proposing for them to meet with him in Tallahassee, Florida to discuss potential ways to redeem the integrity of the foreclosure system and ensure the continued marketability of real property in the State of Florida.

"I am writing you to express my concern for Florida’s economic future and the credibility of Florida’s judicial foreclosure system as a result of the actions of your company -- actions that have affected the integrity of title to real property for Florida’s homeowners as well as the foreclosure process in Florida," Attorney General Bill McCollum stated to the Chief Executive Officers of several large banks such as JP Morgan Chase, GMAC Mortgage, Bank of America, and PNC Financial Services.

McCollum emphasized that the problems of faulty foreclosure affadavits has been compounded by the effect of the recently announced moratoriums on foreclosures by several large mortgage servicers, as well as the private litigation that has already begun.

"In my view, the moratoria and the private litigation are counterproductive to obtaining the swift solution necessary to address this serious problem facing Florida’s already fragile economy," McCollum said.

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